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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: j-at-home who wrote (267897)	11/18/2003 9:57:48 PM
From: Hawkmoon	Read Replies (1) of 436258

I doubt a trade "victory" over our European allies will achieve any material or lasting benefit to the US. Not over the long term.. and it's certainly not in the US interest to reenter an age of protectionism. But currency exchanges are practically the only thing that governments/CBs control nowadays, what with the WTO and all.. So protectionism will likely take the form of currency devaluations vs competing markets. And that's what Bush is engaging in now, IMO.. Protectionism by currency proxy. China is a much different problem. They can actually sustain a much greater price due to having a generally lower standard of living.. And this is interesting, IMO. Believe it or not, I think the Chinese relate better to the US than they do to the Europeans (given the long history of colonization by them). Sure we have our differences, but given that the Chinese are pegging their currency to our dollar, and NOW finally agreeing to purchase billions in US goods to decrease the trade surplus, we might have a relationship that functions for the near term. (not that I discount the latent threat a Fascist China could present in the future). Hawk

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